Programs and Applications - Montana Board of Investments

Fixed-rate financing up to 25 years.
Job creation credits may reduce BOI interest rate up to 2.50%.
BOI does not lend directly to businesses.
Only Approved Lenders may submit loan reservation and loan application forms.
Maximum BOI participation is 80% of lender loan if the loan-to-value is 75% or less.
BOI completes a full underwriting credit review.
Government guaranteed loans - Fixed rate financing up to 30 years with limited underwriting credit review.

Approved Lender completes and submits the loan reservation form.
Reservation fee is 0.25% of the BOI participated amount.
Submission of reservation form and payment of fee locks an interest rate and reserves funds for one year.
Interest rate is locked as the date on the reservation form is received by BOI.
Reservation fee will be withdrawn from the Approved Lender's authorized account via ACH.

INFRASTRUCTURE LOAN PROGRAM

Loans to local government for infrastructure improvement used by basic sector businesses.
Business for which infrastructure is provided must create at least 15 full-time jobs.
Loan sized at number of new qualifying jobs created times $16,666. Minimum loan size is $250,000.
Business pays local government use fee, which is assigned to BOI for loan repayment.
Use fee can be credited against Montana income taxes paid by business, 17-6-316, MCA.
Full underwriting credit review.
Total amount allocated for this program is $80 million.

Minimum BOI loan is $100,000 and maximum loan is $3,000,000.
BOI will provide a fixed rate loan equal to the current INTERCAP rate at the time of reservation on a maximum of 35% of the loan to value and will be in a junior lien on the collateral.
BOI loan repayments do not begin until January 2027.
The Lender will provide a minimum of 60% of the loan to value and will be in a senior lien on the collateral.
Business must provide at least 5% of the loan to value.
Please see the Terms and Conditions and Continuing Guidance for additional details.

BOI is no longer accepting reservations.

BOI is no longer accepting applications.

Revitalize a closed sawmill and return it to commercial operation.
Fixed rate financing up to 25 years.
Interest rate not to exceed 4%.
Job creations credits may reduce BOI interest rate up to 2.50%.
The Board does not lend directly to businesses.
Only Approved Lenders may submit loan reservation and loan application forms.
Maximum Board participation is 80% of Lender loan if the loan-to-value is 75% or less.
The Board completes a full underwriting credit review.
Government guaranteed loans - Fixed rate financing up to 30 years with limited underwriting credit review.

Lender is required to have the loan reviewed and approved prior to reserving funds.
Approved Lender completes and submits the loan reservation form.
Reservation fee is 0.25% of the Board participated amount. The fee paid is refundable if the application is rejected.
Submission of reservation form and payment of fee locks an interest rate and reserves funds for one year.
Interest rate is locked as the date on the reservation form is received by the Board.
Reservation fee will be taken from the Approved Lender's authorized account via ACH.

The Reservation Form will be available on July 1, 2025 at 9AM.

APPLICATION FORM LINK (PENDING)

Loans made to local economic development organizations.
Maximum loan size is $500,000.
Applicant must use the BOI Intermediary Relending Loan Program loan as matching funds toward other government revolving loan funds.
Interest rate of 2% for 30 year term.
Interest only for the first three years, then principal and interest for the remaining 27 years.
Full underwriting credit review.
Total amount allocated for the program is $10 million.
Application is made by letter to BOI accompanied with:
- The government revolving loan fund application
- 3 years audited financial statements
- Interim balance sheet and income statement
- Detailed aging of loan portfolio